Member Info for MartyPoppins

After yearings of ignoring this share (having previously lost my hat on it), I looked at it again about 2 weeks ago and ......... the SP is down about 60% since then!!!! Granted unusual circumstances, but seems it's the same old same old for GKP investors ( there are always 'unusual circumstances' for this company).

Anyway, a lot of what I am reading now is the same as when PIs previously lost just about everything on the share, while management continued making a fortune. PIs endlessly averaging down need take care of this company - management before showed it cared ONLY for itself. Is there any reason why things have changed?

Not invested anymore and staying that way.

GLA

Well, I am certainly encouraged by management response to the current crisis and its detailed communication to shareholfers on the way forward. Good to see management earning its considerable remuneration for a change.

And a deafening silence from certain rampers who have been remorselessly pumping this share for years. The next post will, of course, be to say that they had actually sold out at 36p months ago. Some things never change on AIM.

Surprised to see my post about the use of PMG's current cash balance to fund continued remuneration of management (and little else) removed by LSE. Despite the lack of communication from the company (as usual), some sensitive people about.

They are stopping everything else - why not suspend the LSE for a few weeks until this all blows over - might save PIs a few billion.....?

MM,

Agreed - but look at the announcement. Zero details about price etc. And if the price was, say, a discounted 140p to a then 160p, will it still go ahead given the share is now 80p? And if it does not go ahead....... Hence my refetence to Carillion and a self-induced death. Crazy management.

Sometimes UK management teams are either really stupid or really naive (SXX anyone?), but the manner of the recent equity announcement and its absolutely catastrophic effect on the SP in these already difficult times wins my prize as most thoughtless announcement of the year. It will be ironic if it leads to another Carillion.

This company had been doing well recently and prospects looked promising. Now they mention fund raising without any details whatsoever and the price falls 30% (following its further collapse in the recent market mayhem). So pricing on the fund raising now moves downward to reflect the new SP and more shares are issued than had been intended? This management team is very silly. I had bought in at 160p - what a bad decision to invest in such incapable management.

AB76,

While I would be cautious on the land value (just how much would PMG get if the land was sold today?), I agree it highly unlikely that PMG would go under. However the issue for 30p holders is what will management do to get back to at least 70p? History implies very little - no increased investor communication; no attempt at generating institutional interest (institutional holders would cramp TC's laissez faire attitude to PMG cash); no effort at investor return. In sum, same old/ same old from this highly compensated management team.

Compare to Serica, also in the gas sector, also debt-free and also cash rich. By no means saying the company is perfect, but there is regular communication from management; the organisation of analyst site field trips (......); and - gasp! - talk by management of return to SH's in the form of dividends (although not sure how the crash will affect that......).

I hold both, but clearly am more impressed by management of the latter.

Chrishutch,

My buy-in price (many years ago) was 160p.....................Forgot the stop loss again.

Thanks Sasa43. And even cheaper now, I reckon, with oil at $30......I'll look them up. Yet another disasterous day in store on the markets for LT investors in general.

Noticed on the US markets that even as gold bullion has been rising, PM miners have been fallin somewhat. Presumably due to:
- flight to cash. People selling anything, including miners, to generate cash;
- fears of potential corona effect on mining workforce.

Both panic driven. Hope this reverses as fear subsides and people realise the profits mining companies are generating at these gold prices.

Neil,

'Companies with cash and no debt'. Still talking about Parkmead? TC has spent the company's cash on buying his wife's useless farm (....) and granting himself excessive loans. Utterly pointless use of cash that merely shows how untrustworthy management is. Better a company with limited cash and good management than a company with free cash and a management team that has zero credence.

I lost heavily on this coy a few years back with what must have been the most self-serving management team of any listed company. Reading the comments, management continues as ever. Shame - cash rich, SBB programme and dividends. What more could an investor want? Eh.....

Now approaching 20% of the 'worth at least 500p'. Disaster - no other way of putting it.

Sasa43,

Not a fan of CEY either in fact, which is why I have been buying small amounts on the dips and selling on the rises. Won't make me rich but keeps life interesting. I have no intention of holding a large LT position in CEY.

The 'problem' with POLY is that it keeps rising, and when holding appreciate by x % I have a 'rule' that I take some profits. If POLY reaches 1350p, I will have to consider this. Gut feeling is that it will continue up (much?) further but investing rules are rules.....At least this will generate some cash - the non-PM part of my portfolio is taking a bath, like most other people.

Anyone ever wonder what the SLE oil gurus do all day for their vast remuneration packages, given they basically collect from one single lender and hold one equity interest (but still can't get the accounts out on time.......). OF - get out of the pub for once and return value back to shareholders. The cash held is for investors, not your bar bill. Oh I forgot - it's Friday.

Floated in June 2018 and has shot itself in the face by beginning 2020. Got to be the quickest listed company ever to commit suicide. What a group of idiots.

Eeeeh - 'writedown'.....

Sasa43,

Poly and HGM have also been my core PM holdings. Bought in before gold was popular basically on the premise that, if I was going to hold PM shares LT, they might as well be dividend paying. Success with Poly/HGM caused me to look at TSG (also Russian obviously) at about 90p (down from a prior 130p) - totally tanked on a reserve withdown!! So I have just traded the latter a bit - goes up and then goes down and then...... Another reasonabley volatile share I have been trading is CEY with its series of higher lows. Bought into FRES waaaaay too early, but it is also fairly easy to trade a bit. Waiting patiently on PUR.

Revenue/ net income/free cash flow and dividend all up; net debt down. Share up 1% so far - is the market asleep?

Gbk47,

I have said it before, but in general if you have bought low and the share moves by, say, 30% it is prudent to sell SOME of your holding on the jump. No one can predict these Corona events etc. but that is why you do it. You might miss out on future profits if the price moves ever upwards, but so far that has hardly been the case with ENQ. .....

Gold is a more obvious example. When at 1670, PM miners were through the roof with LTHs seeing profits of 50--100%. The subsequent fall in gold has caused miners (on the US markets especially) to fall drastically. Those who sold even a little of their holdings at 1650-1670 absolutely nailed it and can load up again at heavily reduced prices.

Hindsight is 50/50, but if you just have simple rule that you will sell x% at each rise of y% you dont need to time the market. And top up if/when the price falls back to z. The exact figures are determined by your risk tolerance.